Milt Capps at Venture Nashville has touched base with the team at Life Science Tennessee, which will next week visit Capitol Hill to make their case for tens of millions in funding from various sources. Along with Life Science Tennessee Chairman Steve Bares and other board members, Hall Strategies Partner Abby Trotter will represent the organization.

Bares and Trotter told VNC that LSTN does not yet have sponsors for legislation to provide the support the association seeks, but LSTN is on the lookout for such opportunities and is steadily engaging legislators on the matter. They do not pretend that success this year is do-or-die, and say they plan to persist, regardless the outcome in this session.

Biotechnology company BioMimetic Therapeutics (Ticker: BMTI) got a big bump in its stock price Thursday just before the release of positive results of a successful Canadian clinical trial of its Augment Injectable Bone Graft treatment. Dr. Timothy Daniels, associate professor of orthopedic surgery at the University of Toronto and St. Michael's Hospital, presented the results of the trial at the American Orthopaedic Foot and Ankle Society annual meeting.

"I have been impressed with the improved handling and delivery characteristics of Augment Injectable compared to other available bone graft alternatives currently being used. Should Augment Injectable receive Health Canada approval, I believe it will be widely used by surgeons who are interested in sparing patients the additional pain and potential risks associated with traditional autograft bone harvest. Further, given the injectable nature of the material and improved handling characteristics, Augment Injectable may expand the indications for bone grafting."

Shares jumped more than 16 percent in yesterday's regular trading session to close at $3.15 and climbed another 5 percent after hours. That has the stock at its highest level since October.